EU: Carob Market 2024

Carob Market Size in the EU

The EU carob market surged to $X in 2022, growing by 18% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Carob Production in the EU

In value terms, carob production declined to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 74%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Portugal (X tons), Italy (X tons) and Spain (X tons), together comprising 81% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Portugal (with a CAGR of +4.0%), while production for the other leaders experienced more modest paces of growth.

The average carob yield was estimated at X tons per ha in 2022, leveling off at 2021 figures. The yield figure increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 31%. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the carob yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of carob production in the European Union reduced slightly to X ha, almost unchanged from the year before. Overall, the harvested area continues to indicate a slight slump. The most prominent rate of growth was recorded in 2021 with an increase of 0.9%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Carob Exports

Exports in the EU

Carob exports expanded modestly to X tons in 2022, increasing by 2.7% on the previous year's figure. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +34.3% against 2019 indices. The pace of growth was the most pronounced in 2014 when exports increased by 52%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, carob exports rose slightly to $X in 2022. Total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 35% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Spain represented the largest exporter of carob in the European Union, with the volume of exports reaching X tons, which was near 58% of total exports in 2022. It was distantly followed by Portugal (X tons), mixing up a 30% share of total exports. Italy (X tons), Cyprus (X tons) and the Netherlands (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +9.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) remains the largest carob supplier in the European Union, comprising 59% of total exports. The second position in the ranking was taken by Portugal ($X), with a 23% share of total exports. It was followed by Cyprus, with a 6.2% share.

In Spain, carob exports increased at an average annual rate of +10.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Portugal (-0.1% per year) and Cyprus (-7.0% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, stabilizing at the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2013 an increase of 29% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cyprus (+2.4%), while the other leaders experienced more modest paces of growth.

Carob Imports

Imports in the EU

In 2022, the amount of carob imported in the European Union soared to X tons, with an increase of 104% compared with 2021 figures. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, carob imports skyrocketed to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.4% against 2017 indices. The pace of growth was the most pronounced in 2020 when imports increased by 58%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Spain (X tons) and Italy (X tons) represented roughly 64% of total imports in 2022. The Netherlands (X tons) took the next position in the ranking, followed by France (X tons), Belgium (X tons) and Germany (X tons). All these countries together took approx. 31% share of total imports. Cyprus (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cyprus (with a CAGR of +151.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest carob importing markets in the European Union were Italy ($X), Spain ($X) and the Netherlands ($X), together comprising 63% of total imports. France, Germany, Belgium and Cyprus lagged somewhat behind, together accounting for a further 25%.

Cyprus, with a CAGR of +133.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, with a decrease of -23.7% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 32%. As a result, import price reached the peak level of $X per ton, and then plummeted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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